Options are derivative contracts that give you the right to buy or sell an underlying asset at a certain price on or before a set date. As well as allowing investors and companies to hedge against price swings, options contracts are a popular way to speculate on market movements and can be used as tradeable assets in their own right.
Our experts have evaluated and compared dozens of options brokers. To find the best brokers for options trading, we considered:
- The commission on options contracts
- The markets you can trade
- The quality of the options trading platform
- The leverage and margin rates available
- The broker’s regulatory status and reputation
List of Best Options Brokers 2026
These are the 6 best options brokers in Uganda based on our tests:
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- Demo account
- Min. deposit: $100
- Min. trade: 0.01 Lots
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- Demo account
- Platforms: WebTrader, App
- Min. deposit: $100
81% of retail CFD accounts lose money. -
- Demo account
- Min. deposit: $0
- Min. trade: 0.01 Lots
-
- Demo account
- Instruments: Stocks, Options, ETFs, ADRs, OTCs
- Regulator: SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC
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- Demo account
- Instruments: Stocks, Options, ETFs, Bonds
- Regulator: SEC, FINRA
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- Regulator: SEC, FINRA
- Platforms: Firstrade Invest 3.0, TradingCentral
- Min. deposit: $0
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- AvaTrade 4.9/5 When we tested AvaTrade’s options via AvaOptions, we found strong pricing transparency, with spreads from 0.9 pips on major forex pairs. The platform offers advanced risk tools and over 40 FX options, regulated across multiple regions. Low minimum deposits and flexible position sizes suit both beginners and experienced options traders.
- Plus500 4.1/5 During our tests, Plus500 offered streamlined options trading via an easy-to-use platform with rapid execution. While the range is limited to CFDs on forex options, costs are embedded in tight spreads. No commissions, low minimum deposit, and strong regulation make it accessible for casual and mobile-focused options traders.
- IG 4.8/5 When we tested IG’s options trading, the platform stood out for its tight spreads (as low as 0.1 points on major indices), robust execution, and deep range - covering thousands of global options. Low minimum trade sizes, superb regulation, and seamless mobile/web usability make it ideal for active and cost-conscious options traders.
- Moomoo 3.2/5 When we tested Moomoo’s US options, the platform impressed with $0 commission on equity options and just $0.50 per index contract. It supports 13 strategies, real‑time Level 2 data (with $100 avg. balance), and fast execution. FCA/SEC regulation, low deposits, but note: options positions cannot be transferred out once opened, which users reported as restrictive during our live trades.
- TradeUp 3.5/5 Established in 1986, TradeUp operates as a commission-free broker in the US offering trading for stocks, ETFs and options. Through its web platform and mobile app, clients can trade over 5,000 instruments with cash and margin options, while idle funds can earn interest.
- Firstrade 4.0/5 When we tested Firstrade, its options trading stood out with zero commissions and no contract fees. The platform supports advanced strategies with intuitive tools and a $0 minimum deposit. SEC and FINRA-regulated, Firstrade suits beginners and experienced traders seeking low-cost, flexible options access on desktop and mobile.
Best Options Brokers 2026 Comparison
| Broker | Options Trading | Margin Trading | Trading Platform | Minimum Deposit | Regulator |
|---|---|---|---|---|---|
| AvaTrade | ✔Yes | ✔Yes | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingView, TradingCentral, DupliTrade | $100 | ASIC, CySEC, FSCA, ISA, CBI, JFSA, BVI, FSRA/ADGM, AFM, CMA-Kenya, CIRO (via Friedberg Direct) |
| Plus500 | ✔Yes | ✔Yes | WebTrader, App | $100 | FCA, CySEC, EFSA, ASIC, FMA, FSCA, MAS, ISA, FSA, DFSA, SCA, JFSA, SCB, CIRO, BAPPEBTI, OJK, BI |
| IG | ✔Yes | ✔Yes | Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime | $0 | CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA, CONSOB |
| Moomoo | ✔Yes | ✔Yes | Desktop Platform, Mobile App | $0 | SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC |
| TradeUp | ✔Yes | ✔Yes | Desktop, Web, Mobile | $0.01 | SEC, FINRA |
| Firstrade | ✔Yes | ✔Yes | Firstrade Invest 3.0, TradingCentral | $0 | SEC, FINRA |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| AvaTrade | 13597 | ||||
| Plus500 | 20117 | ||||
| IG | 10157 | ||||
| Moomoo | 740 | ||||
| TradeUp | - | 1 | |||
| Firstrade | 53 |
AvaTrade
AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets.
Jemma Grist, Reviewer
AvaTrade quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
- Regulator
- ASIC, CySEC, FSCA, ISA, CBI, JFSA, BVI, FSRA/ADGM, AFM, CMA-Kenya, CIRO (via Friedberg Direct)
- Platforms
- WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $100
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, ZAR
Pros
- Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
- The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
- AvaTrade launched AvaFutures to offer low-margin access to global markets, then expanded in 2025 as one of the first brokers to add CME’s Micro Grain Futures, and then later in the year went further by integrating with TradingView.
Cons
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
Plus500
Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources.
Christian Harris, Reviewer
Plus500 quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options, Crypto
- Regulator
- FCA, CySEC, EFSA, ASIC, FMA, FSCA, MAS, ISA, FSA, DFSA, SCA, JFSA, SCB, CIRO, BAPPEBTI, OJK, BI
- Platforms
- WebTrader, App
- Minimum Deposit
- $100
- Minimum Trade
- Variable
- Account Currencies
- USD, EUR, GBP, AUD, ZAR, CZK
Pros
- The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
- Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface
- The broker offers low commission trading on a diverse range of markets, minimizing additional fees while appealing to established traders
Cons
- Algo trading and scalping are not supported, which may deter some day traders
- Compared to some competitors, especially IG, Plus500’s research and analysis tools are limited
- Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
IG
IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and robust trade execution for experienced day traders.
Christian Harris, Reviewer
IG quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)
- Regulator
- CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA, CONSOB
- Platforms
- Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
- Minimum Deposit
- $0
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
Pros
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
- IG obtained a crypto asset license from the FCA, allowing it to re-enter the UK market to provide buying, selling and storing opportunities on 55+ digital tokens with fees from 1.49%, and all within an FCA-licensed environment.
Cons
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
- IG applies an inactivity fee of $12-$18 per month after 2 years, deterring casual investors.
Moomoo
Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees.
Jemma Grist, Reviewer
Moomoo quick facts
- Demo Account
- ✔Yes
- Instruments
- Stocks, Options, ETFs, ADRs, OTCs
- Regulator
- SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC
- Platforms
- Desktop Platform, Mobile App
- Minimum Deposit
- $0
- Minimum Trade
- $0
- Account Currencies
- USD, CAD, AUD, JPY, MYR, HKD, SGD, CNY
Pros
- Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
- There are reduced options contract fees from $0.65 to $0
- The Moomoo AI assistant, found in the desktop software and app, provides genuinely useful market insights to inform active traders
Cons
- Moomoo has faced multiple regulatory penalties in recent years, including fines and orders in 2026 that stopped it temporarily accepting some Japanese and Chinese clients
- There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
- The account range is narrow compared to other brokerages in its class with no managed portfolios or robo-advisor solutions
TradeUp
TradeUp is best suited to budget-conscious day traders looking to trade U.S. and global markets (via ADRs) with zero commissions on a user-friendly mobile app. Its more than 250 Chinese American Depositary Receipts (ADRs), including Alibaba Group (BABA), also make it suitable for trading Chinese equities.
Christian Harris, Reviewer
TradeUp quick facts
- Demo Account
- ✔Yes
- Instruments
- Stocks, Options, ETFs, Bonds
- Regulator
- SEC, FINRA
- Platforms
- Desktop, Web, Mobile
- Minimum Deposit
- $0.01
- Minimum Trade
- $1
- Account Currencies
- USD
Pros
- TradeUp offers commission-free trading on US stocks and ETFs, and support for fractional shares lets you buy portions of a share for as little as $1. This makes it a cost-effective choice for active day traders who want to minimize trading expenses.
- TradeUp’s platforms work smoothly across multiple devices based on our tests, including mobile apps for iOS and Android, a desktop app for Windows and Mac, and a web-based platform. This allows active traders to switch between devices without losing continuity, whether you’re at home or on the go.
- TradeUp runs an integrated and intuitive financial calendar that helps you track earnings, dividends, and IPOs relevant to your watchlist, enabling you to stay ahead of market-moving events.
Cons
- The platform's technical indicators have limited customization options from our use. On both mobile and web versions, you can't layer multiple indicators on the same chart simultaneously, which restricts more sophisticated chart analysis.
- TradeUp does not support popular third-party platforms like TradingView or cTrader, so traders who rely on those for advanced charting, automation, or community features won't find that flexibility.
- A 2026 security incident left the personal and financial data of 26,985 users vulnerable, including their Social Security numbers, driver's licenses, passports, and medical information.
Firstrade
Firstrade is perfect for beginners looking to trade US stocks with zero commissions. There is a wealth of free education plus premium-quality research, notably through its latest FirstradeGPT tool, plus trading ideas from Morningstar, Briefing.com, Zacks and Benzinga.
William Berg, Reviewer
Firstrade quick facts
- Demo Account
- ✘No
- Instruments
- Stocks, ETFs, Options, Mutual Funds, Bonds, Fixed
- Regulator
- SEC, FINRA
- Platforms
- Firstrade Invest 3.0, TradingCentral
- Minimum Deposit
- $0
- Minimum Trade
- $5
- Account Currencies
- USD
Pros
- Improved platform offering in 2025 with Firstrade Invest 3.0, sporting a cleaner interface and faster order entry for active traders across key areas like watchlists and options chains
- Excellent broker for budget-conscious traders with low OTC fees
- Enhanced stock trading environment with overnight trading and fractional shares added
Cons
- Visa credit/debit card deposits and withdrawals are not accepted
- Firstrade focuses on stocks at the expense of forex, limiting diversification opportunities
- No demo/paper trading account at Firstrade, despite them available at over 90% of alternatives we've evaluated
Best Options Brokers For Beginners
These 3 options brokers are best for new traders with a low minimum deposit, a beginner-friendly platform and free education:
- Webull
- IG
- eToro USA
Best Options Brokers For Active Traders
These 3 options brokers are best for active traders with competitive fees, advanced tools and perks for high-volume traders:
- AvaTrade
- FOREX.com
- NinjaTrader
Cheapest Options Brokers
These 3 options brokers offer commission-free trading with no hidden charges:
- Webull
- SoFi Invest
- Firstrade
Best Options Trading Platforms
These 3 options brokers offer the best platforms with a user-friendly interface, reliable order execution and sophisticated analysis tools:
What To Look For In An Options Broker
To compile a list of the best brokers for options, we considered several key factors:
Low Commissions On Options Contracts
Most brokers charge a per-contract fee for options trading. To find the cheapest options brokers, we compared the commission per contract, which typically comes in at around $0.65 per contract. We also look for firms that offer discounts for high-volume traders.
Alongside direct trading fees, we consider non-investing charges. These can take the form of market data fees, regulatory charges, deposit and withdrawal fees, and inactivity penalties. Together, this gives us an objective view of the overall pricing.
A Range Of Tradable Markets
Options contracts can be traded on a range of underlying markets, from stocks and bonds to commodities and currencies. Importantly, the best brokers offer an array of options instruments, allowing traders to build a diverse portfolio.
We compare the underlying markets available to find the options brokers with the greatest breadth and depth in their product portfolio.
Regulated With A Good Reputation
Our team places the highest priority on safety so we always recommend picking an options broker that is regulated by a top-tier financial body. Using a regulated broker to trade options will help protect you from scams and provide security for your funds.
We verify the regulatory status of all the options brokers we review. To do this, we check the broker’s license number (often found at the bottom of the brokerage’s website) on the regulator’s register to confirm they are authorized and which countries they are allowed to accept options traders from.
Only regulated and trustworthy firms make our list of the best options brokers.
High-Quality Platform
The platform is your window to the financial markets and the tool where you can analyze instruments and execute trades. As a result, choosing a reliable, efficient and powerful platform is important.
Our team test the options platform available where possible, either by downloading the desktop software, opening the web trader, or using the mobile app. The key things we look for are a well-designed and easy-to-use interface, rich charting and analysis tools, and straightforward order management.
Margin
While some investors trade options with a cash account, many use a margin account so they can increase their buying power and prospective profits in return for a modest outlay.
Our team compare the margin requirements set by brokers, that is the funds or securities that must be deposited in your account as collateral. We also consider the cost of trading on margin, which is typically a percentage charge based on the amount you borrow.
Our Methodology
To find the best options brokers, our team spend thousands of hours each year, testing, comparing and rating firms.
The categories with the largest weighting in our options broker rankings are the fee per contract, the range of underlying assets, the quality of platforms, margin rates, and the firm’s regulatory credentials and safety record.
Our team also factor in the overall trading experience during the evaluation process to inform the final rating we assign to each options broker.
FAQ
Which Is The Best Options Broker?
We have compiled a list of the best options brokers in 2026. These are the 5 top options trading platforms in Uganda based on our experts’ findings.
What Is An Options Broker?
Options brokers give traders the ability to trade options contracts on the markets they support, such as US stocks. These derivative contracts give you the right to buy or sell the underlying asset for a set price on or by a certain date.
Article Sources
- An Investor's Guide to Trading Options, Virginia B. Morris, Bess Newman
- Trading Stock Options: Basic Option Trading Strategies and How to Use Them to Profit in Any Market, Brian Burns
- Option Trader's Playbook, Joseph Kellogg, John Elliot
- eToro - Options App
- AvaTrade - Options Platform
- Webull - Options Trading Conditions
- Forex.com - Options Trading Conditions
- IG - Options Trading Conditions
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com